Win Hanverky Holdings Limited released its unaudited interim results for the six months ended 30 June 2026, reporting a sharp narrowing of net loss alongside modest top-line growth and an operating turnaround.
Financial Highlights • Revenue from continuing operations rose 3.0% year on year to HK$1.63 billion. • Gross profit increased 6.9% to HK$274.97 million, lifting the gross margin by 0.7 percentage point to 16.9%. • Operating profit reached HK$6.02 million, compared with a HK$21.23 million loss in the prior-year period. • Net loss attributable to the Group declined 83.2% to HK$9.42 million; basic EPS turned to a profit of HK0.5 cent (H1 2025: loss of HK3.4 cents). • Cash and bank balances rose to HK$356.35 million, while the net gearing ratio improved to 5.5% (31 December 2025: 18.8%). • No interim dividend was declared.
Segment Performance 1. Sportswear Manufacturing – Revenue: HK$1.25 billion, up 5.0%. – Operating result: HK$4.94 million profit (H1 2025: HK$17.63 million loss). Reduced production and transportation expenses following resolution of raw-material issues drove the turnaround.
2. High-end Functional Outerwear Manufacturing – Revenue: HK$179.73 million, down 28.3%. – Operating loss widened to HK$36.68 million (H1 2025: HK$17.47 million loss), reflecting lower orders from a key customer and shipment delays.
3. Fashion Brands and Licensing – Revenue: HK$199.93 million, up 40.9%. – Operating profit surged to HK$37.76 million (H1 2025: HK$13.87 million), supported by franchise-model expansion and expense control.
Discontinued Operations The ceased High-end Fashion Retailing Business contributed a post-tax profit of HK$6.86 million, reversing a HK$8.91 million loss a year earlier.
Financial Position Total assets stood at HK$2.47 billion. Interest-bearing borrowings fell to HK$444.00 million, with 51.4% denominated in HKD, 30.6% in USD and 18.0% in RMB. Pledged assets comprised HK$20.77 million in bank deposits and HK$77.46 million in land and properties.
Management Outlook The Group highlighted persistent geopolitical and macroeconomic uncertainties, noting potential order adjustments in Sportswear Manufacturing and expectations of a gradual rebound in High-end Functional Outerwear during the traditional peak season. The asset-light franchise strategy in Fashion Brands and Licensing is expected to underpin margin resilience.
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